With over 13.58 million Elevation Oncology Inc (ELEV) shares trading Friday and a closing price of $0.87 on the day, the dollar volume was approximately $11.81 million. The shares have shown a negative half year performance of -43.21% and its price on 01/05/24 gained nearly 47.81%. Currently, there are 42.41M common shares owned by the public and among those 32.35M shares have been available to trade.
Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 37,688 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 30,096 shares.
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Shares of Elevation Oncology Inc (NASDAQ: ELEV) opened at $0.66, up $0.07 from a prior closing price of $0.59. However, the script later moved the day high at 0.9500, up 47.81%. The company’s stock has a 5-day price change of 60.21% and 51.66% over the past three months. ELEV shares are trading 62.87% year to date (YTD), with the 12-month market performance down to -13.41% lower. It has a 12-month low price of $0.36 and touched a high of $5.89 over the same period. ELEV has an average intraday trading volume of 264.52K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 67.57%, 75.32%, and -37.61% respectively.
Institutional ownership of Elevation Oncology Inc (NASDAQ: ELEV) shares accounts for 50.12% of the company’s 42.41M shares outstanding.
It has a market capitalization of $37.09M and a beta (3y monthly) value of 0.55. The earnings-per-share (ttm) stands at -$2.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 27.49% over the week and 14.74% over the month.
Analysts forecast that Elevation Oncology Inc (ELEV) will achieve an EPS of -$0.23 for the current quarter, -$0.28 for the next quarter and -$1.17 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.82 a year ago. Earnings per share for the fiscal year are expected to increase by 65.34%, and 19.22% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Elevation Oncology Inc (ELEV) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ELEV, a number of firms have released research notes about the stock. SVB Securities stated their Outperform rating for the stock in a research note on May 30, 2023, with the firm’s price target at $5-$8.
